WS - C - City of Tiffin 2024 - Auditor's Report - Final

City of Tiffin Schedule of Findings and Responses Other Findings Related to Statutory Reporting 24-IV-A – Certified Budget Expenditures for the year ended June 30, 2024 did not exceed budgeted amounts. 24-IV-B – Questionable Disbursements We noted no material expenditures which did not appear to meet the requirements of public purpose as defined in an Attorney General's opinion dated April 25, 1979. 24-IV-C – Travel Expense No disbursements of City money for travel expenses of spouses of City officials or employees were noted. 24-IV-D – Business Transactions There were no business transactions between the City and City officials or employees that exceeded $6,000. 24-IV-E – Restricted Donor Activity No transactions were noted between the City, City officials or City employees and restricted donors in compliance with Chapter 68B of the Code of Iowa (Government Ethics and Lobbying Act). 24-IV-F – Bond Coverage Surety bond coverage of City officials and employees is in accordance with statutory provisions. The amount of coverage should be reviewed annually to ensure that the coverage is adequate for current operations. 24-IV-G – Council Minutes No transactions were found that we believe should have been approved in the Council minutes but were not. 24-IV-H – Deposits and Investments No instances of noncompliance with the deposit and investment provision of Chapter 12B and 12C of the Code of Iowa and the City's investment policy were noted. 24-IV-I – Revenue Bonds and Notes No instances of non-compliance with the revenue bond and note resolutions were noted. 24-IV-J – Tax Increment Financing The Special Revenue, Tax Increment Financing (TIF) Fund properly disbursed payments for TIF loans and rebates. Also, the City of Tiffin properly completed the Tax Increment Debt Certificate Forms to request TIF property taxes. 24-IV-K – Annual Urban Renewal Report The Annual Urban Renewal Report was properly approved and certified to the Iowa Department of Management on or before December 1 as required by Chapter 384.22(2)(a) of the Code of Iowa but it was noted that the expenditures, receipts and ending cash balances on the Levy Authority Summary did not agree with the City's records. 46